At a time when many people feel powerless over their own health care, giving your employees choices about how they manage their own medical costs is a good thing — both for them and for you. With Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and Flexible Spending Accounts (FSAs), self-funded plans are possible for employees to utilize.

Pooled stop-loss insurance has its pros and cons, depending on your business structure and employee needs. It’s essential to take the time to carefully weigh these pros and cons of pooled stop-loss insurance before committing to a policy. Obtaining coverage with a large group of fellow sponsors can garner your company with additional benefits, but also less overall control of the process.

Stop-loss insurance is not health insurance, but rather a type of financial reinsurance. Unlike health insurance, stop-loss ensures protection from debt when payable claims exceed a deductible. Stop-loss and health benefit plans have seen an increase in disputes regarding what is payable, how much is payable, and what can be covered by stop-loss. This has in turn led to higher amounts of claims paid by benefit plan sponsors that are not covered by stop-loss insurance.

The Self Insurance Protection Act has provided protection through employer-sponsored insurance to millions of workers within the United States. As this bill continues through the legislative process to become law, self-funded employers need be following the movement of this monumental document for stop loss insurance.

Hiring a stop loss insurance broker entrusts the specialist with the betterment of your insurance and risk management. To ensure your stop loss insurance broker is acting in your best interest, certain questions must be asked during the hiring process.

As lawmakers work to improve the quality of healthcare and preventative solutions, the American healthcare system is left with holes that do not address the growing opioid epidemic. As opioid abuse increases, the number of self-funded employers footing the bill for drug abuse issues of employees goes up as well. Self-funded employers need to know how to protect themselves in the current political climate, should this situation arise.

Specialty drugs can be up to 50 times more expensive than traditional drugs. Though specialty drugs have been associated with significant improvements in terms of good health over time, they are not without their faults. Are the positive effects worth breaking the bank?

In 2013, the average deductible was $2,906 for individuals selecting plans from marketplaces. This compares with average deductibles of $1,135 for an individual with employer coverage. Reference:Click hereclose

In 2013, the average annual premiums for employer-sponsored health insurance are $5,884 for single coverage and $16,351 for family coverage, up 5% and 4% respectively from 2012. Reference:Click hereclose

From 2010 – 2013, cancer followed by chronic/end stage renal disease and leukemia accounted for the top 3 costliest illnesses. Reference:Click hereclose